Explanatory note

Section 1 of the Local Government Act 2003, read with section 23(5) of that Act, gives mayoral combined authorities the power to borrow money for a purpose relevant to its transport functions. Regulation 2 of these Regulations provides certain such authorities with the power to borrow money for any of their other functions not just transport.

A full regulatory impact assessment has not been prepared as this instrument will have no impact on the costs of business and the voluntary sector.